Ruslan Tymofieiev (Ruslan Tymofeev) and Andrew Kryvorchuk Teach Business Startups on the Errors in Pitch Delivery Through Hey, Pitches!
The founder of Adventures Lab, Ruslan Tymofieiev (Ruslan Tymofeev), and managing partner, Andrew Kryvorchuk, discuss the Hey, Pitches! project. The project focuses on the errors commonly committed by new startups when pitching their business idea to investors to help startup founders attract financing to their projects.
While some people have tons of money, others are endowed with drive, creativity, the will to succeed, and so many more. So how can they achieve common ground? What connects investors and business startups? A great idea is by learning how to pitch from investors.
Hey, Pitches! is the brainchild of Ruslan Tymofieiev launched in Ukraine to tutor startups on pitching to investors in partnership with Genesis Investments. Experts choose the most promising startups and guide them in building strong pitches for investors.
A pitch is a business idea that you present in detail to prospective investors and convince them to invest in it. It began in August when experts met with the first set of startups in the program for an hour-long lecture for each of them.
Andrew Kryvorchuk said that the idea for this project came into existence during talks with portfolio firms. The second trigger for the existence of this project is the errors noticed in the pitches of early startups because of factors such as inability to access data, not wanting to use basic information, inadequate preparation, and so on.
He stressed that startups try to sell themselves to an investor at the pitch stage. But this project has a different vision. This is about helping startups completely rectifying their failures and mistakes before meeting with prospective investors. Andrew tags the project’s approach to this issue as “Anti-Consulting.” This means that, unlike consultants who charge a fee for their services, they do not because they see their startups as an asset.
Andrew talked about caring for the working environment and how it can make investors more profitable as it develops, improves stability, and becomes more viable. He said that Hey, Pitches! is not just a social program but also a practical project. He talked about several good startups operating in oblivion, and they will soon have the attention of investors from Europe. He said that their goal is to get in touch with these promising startups at the early stage so that they can mentor, prepare and expose them to opportunities to secure financing for their business ideas.
Ruslan Tymofieiev (Ruslan Tymofeev) stated that Hey, Pitches! creates a platform for startups to have an observer or investor’s view of their own ideas to recognize the errors and shortcomings and the ways to rectify these mistakes.
He also stated that most early-stage founders do not see the errors, threats, weak points, business competitions, and alternative development options in their business idea. Even more, they pitch because they are full of adoration for their projects. Ruslan said that the project aims to broaden their horizons so that they can begin to see their pitch or idea in a different light. He said they do not give startups ready answers to the shortcomings observed. Rather, they help these young startups realize the answers to their problem through talking and asking questions.
Ruslan Tymofieiev (Ruslan Tymofeev) said that at the last meeting, he was endeared to the startups from Dnipro. That is because they came with all their equipment, thoroughly prepared for their pitch presentation. Most of the startups usually do not prepare that carefully, so once a team does a thorough preparation for any kind of presentation, it always impresses. He also mentioned that startups should not be overlooked even if they are from a small town or village. At the initial stage, their growth may not be obvious, and then suddenly, they become the center of attention. That is why they work with every startup team equally carefully.